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Published Date: 2016-05-13Number of Pages: 150

Combined Heat and Power (CHP) Installation Market, by Type (Large-scale and Micro & Small-scale), by Application (Residential, Commercial, and Industrial), by Technology (Combined Cycle, Combustion/Gas Turbine, Steam Turbine, Reciprocating Engine, Others), and by Fuel (Natural Gas, Coal, Biomass, Others) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024

This research study analyzes the market for CHP installation in terms of revenue (US$ Bn) and capacity (GW). The CHP installation market has been segmented on the basis of type, application, technology, fuel, and region. In terms of region, the market has been further divided into four segments that comprise sixteen countries, which are major players in the global CHP market. For the research, 2014 and 2015 have been taken as the base years, while all forecasts have been given for the period from 2016 to 2024. Market data for all the segments has been provided at the regional level from 2016 to 2024. The report provides a broad competitive analysis of companies engaged in the CHP business. The report also includes the key market dynamics such as drivers, restraints, and opportunities affecting the global CHP market. These market dynamics were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive analysis of the global CHP market with the help of Porter’s Five Forces model. This analysis helps in understanding the five major forces that affect the market structure and market profitability. The forces analyzed are bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition.

The high-level analysis in the report provides detailed insights into the CHP business globally. There are currently numerous drivers of the market. One of the most prominent drivers is the supportive government policies for the installation of CHP equipment. Market attractiveness analysis was carried out for the CHP installation market on the basis of application and technology. Market attractiveness was estimated on the basis of common parameters that directly impact the market in different regions.

The CHP market was segmented on the basis of type (large-scale and micro & small-scale), by application (residential, commercial, and industrial), by technology (combined cycle, combustion/gas turbine, steam turbine, reciprocating engine, others (microturbine, fuel cell, and waste heat recovery)), and by fuel (natural gas, coal, biomass, others (wood, waste heat, and oil)). A CHP system varies according to its type and application. The CHP installation market was analyzed across four geographies: North America, Europe, Asia Pacific, and Rest of World. Regional data has been provided for each sub-segment of the CHP installation market. Key players in the CHP installation market include 2G Energy AG, ABB Ltd., Aegis Energy Services, Inc., BDR Thermea Group B.V., Bosch Thermotechnik GmbH, Caterpillar Energy Solutions GmbH, Clarke Energy Ltd., Veolia Environnement S.A., Dantherm Power A/S, Edina Ltd., E.ON SE, ENER-G Holdings Plc, General Electric Company, Mitsubishi Hitachi Power Systems, Ltd., Siemens AG, Viessmann Werke GmbH & Co. KG, Wärtsilä Corporation, Yanmar Co., Ltd., FuelCell Energy, Inc., and Helen Ltd. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.

CHP Installation Market: By CHP Type

  • Large-scale CHP
  • Micro & Small-scale CHP

CHP Installation Market: By CHP Application

  • Residential
  • Commercial
  • Industrial

CHP Installation Market: By CHP Technology

  • Combined Cycle
  • Steam Turbine
  • Combustion/Gas Turbine
  • Reciprocation Engine
  • Others (Microturbine, Fuel Cell, and Waste Heat Recovery)

CHP Installation Market: By Fuel

  • Natural Gas
  • Coal
  • Biomass
  • Others (Wood, Waste Heat, and Oil)

CHP Installation Market: By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Russia
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Netherlands
    • Poland
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Taiwan
    • Rest of Asia Pacific
  • Rest of World

Table of Content

Chapter 1 Preface

  • Report Description
  • Research Scope
  • Market Segmentation
  • Research Methodology

Chapter 2 Executive Summary

  • Global Combined Heat and Power (CHP) Installation Market: Snapshot

Chapter 3 Global Combined Heat and Power (CHP) Installation Market–Industry Analysis

  • Introduction
  • Value Chain Analysis
  • Market Dynamics
    • Market Drivers
    • Market Restrains
    • Market Opportunities
  • Porter’s Five Forces Analysis
    • Bargaining Power of Suppliers
    • Bargaining Power of Buyers
    • Threat from New Entrants
    • Threat from Substitutes
    • Degree of Competition
  • Market Attractiveness Analysis- CHP Market, By Application
  • Market Attractiveness Analysis- CHP Market, By Technology
  • Company Market Share- CHP Market, 2014-15 

Chapter 4 Global Combined Heat and Power (CHP) Installation Market– Type Segment, by Capacity (GW) and Revenue (US$ Bn), 2014–2024

  • Overview
  • Global Large-scale CHP
    • Regional Large-scale CHP, by Capacity (GW)
    • Regional Large-scale CHP, by Revenue (US$ Bn)
  • Global Micro and Small-scale CHP
    • Regional Micro and Small-scale CHP, by Capacity (GW)
    • Regional Micro and Small-scale CHP, by Revenue (US$ Bn)

Chapter 5 Global Combined Heat and Power (CHP) Installation Market– Application Segment, by Capacity (GW) and Revenue (US$ Bn), 2014–2024

  • Overview
  • Global Residential Application
    • Regional Residential Application, by Capacity (GW)
    • Regional Residential Application, by Revenue (US$ Bn)
  • Global Commercial Application
    • Regional Commercial Application, by Capacity (GW)
    • Regional Commercial Application, by Revenue (US$ Bn)
  • Global Industrial Application
    • Regional Industrial Application, by Capacity (GW)
    • Regional Industrial Application, by Revenue (US$ Bn)

Chapter 6 Global Combined Heat and Power (CHP) Installation Market– Technology Segment, by Capacity (GW) and Revenue (US$ Bn), 2014–2024

  • Overview
  • Global Combined Cycle Technology
    • Regional Combined Cycle Technology, by Capacity (GW)
    • Regional Combined Cycle Technology, by Revenue (US$ Bn)
  • Global Steam Turbine Technology
    • Regional Steam Turbine Technology, by Capacity (GW)
    • Regional Steam Turbine Technology, by Revenue (US$ Bn)
  • Global Combustion/Gas Turbine Technology
    • Regional Combustion/Gas Turbine Technology, by Capacity (GW)
    • Regional Combustion/Gas Turbine Technology, by Revenue (US$ Bn)
  • Global Reciprocating Engine Technology
    • Regional Reciprocating Engine Technology, by Capacity (GW)
    • Regional Reciprocating Engine Technology, by Revenue (US$ Bn)
  • Global Others (Fuel Cell, Microturbine, and Waste Heat Recovery)
    • Regional Others Technology, by Capacity (GW)
    • Regional Others Technology, by Revenue (US$ Bn)

Chapter 7 Global Combined Heat and Power (CHP) Installation Market– Fuel Segment, by Capacity (GW) and Revenue (US$ Bn), 2014–2024

  • Overview
  • Global Natural Gas Fuel
    • Regional Natural Gas Fuel, by Capacity (GW)
    • Regional Natural Gas Fuel, by Revenue (US$ Bn)
  • Global Coal Fuel
    • Regional Coal Fuel, by Capacity (GW)
    • Regional Coal Fuel, by Revenue (US$ Bn)
  • Global Biomass Fuel
    • Regional Biomass Fuel, by Capacity (GW)
    • Regional Biomass Fuel, by Revenue (US$ Bn)
  • Global Others (Wood, Oil, and Waste Heat) Fuel
    • Regional Others Fuel, by Capacity (GW)
    • Regional Others Fuel, by Revenue (US$ Bn) 

Chapter 8 Global Combined Heat and Power (CHP) Installation Market– Regional Segment, by Capacity (GW) and Revenue (US$ Bn), 2014–2024

  • North America
  • North America CHP Market
  • Countries
    • U.S. CHP Market
    • Canada CHP Market
    • Mexico CHP Market
  • EUROPE
  • Europe CHP Market
  • Countries
    • Russia CHP Market
    • Germany CHP Market
    • France CHP Market
    • U.K. CHP Market
    • Italy CHP Market
    • Spain CHP Market
    • Netherlands CHP Market
    • Poland CHP Market
    • Rest of Europe
  • Asia Pacific
  • Asia Pacific CHP
  • Countries
    • China CHP Market
    • Japan CHP Market
    • India CHP Market
    • South Korea CHP Market
    • Taiwan CHP Market
    • Rest of Asia Pacific CHP Market
  • Rest of World
  • Rest of World CHP Market

Section 9 Company Profiles

  • 2G Energy AG
  • ABB Ltd.
  • Aegis Energy Services, Inc.
  • BDR Thermea Group B.V.
  • Bosch Thermotechnik GmbH
  • Caterpillar Energy Solutions GmbH
  • Clarke Energy Ltd.
  • Veolia Environnement S.A.
  • Dantherm Power A/S
  • Edina Ltd.
  • ON SE
  • ENER-G Holdings Plc
  • General Electric Company
  • Mitsubishi Hitachi Power Systems, LTD.
  • Siemens AG
  • Viessmann Werke GmbH & Co. KG
  • Wärtsilä Corporation
  • Yanmar Co., Ltd.
  • FuelCell Energy, Inc.
  • Helen Ltd

List of Figures

Figure 1. Global CHP Installation Market, Estimates and Forecast, By Capacity (GW), 2014–2024
Figure 2. Global CHP Installation Market, Estimates and Forecast, By Revenue (US$ Bn), 2014–2024
Figure 3. Natural Gas Price Trend
Figure 4. Traditional and CHP Systems Energy Efficiency (%)
Figure 5. Market Attractiveness Analysis of Global CHP Installation Market by Application, 2014-15
Figure 6. Market Attractiveness Analysis of Global CHP Installation Market by Technology, 2014-15
Figure 7. CHP Installation Market, Company Market Share (%), (2014-15)
Figure 8. Global CHP Installation Market, Type Market Share, By Revenue(%), 2014
Figure 9. Global CHP Installation Market, Type Market Share, By Revenue(%), 2024
Figure 10. Global CHP Installation Market, By Large-scale Type, By Capacity (GW), 2014–2024
Figure 11. Global CHP Installation Market, By Large-scale Type, By Revenue (US$ Bn), 2014–2024
Figure 12. Global CHP Installation Market, Regional Market Share, By Large-scale Type, Capacity (%), 2014
Figure 13. Global CHP Installation Market, Regional Market Share, By Large-scale Type, Capacity (%), 2024
Figure 14. Global CHP Installation Market, By Micro & Small-scale Type, By Capacity (GW), 2014–2024
Figure 15. Global CHP Installation Market, By Micro & Small-scale Type, By Revenue (US$ Bn), 2014–2024
Figure 16. Global CHP Installation Market, Regional Market Share, By Micro & Small-scale Type, By Capacity (%), 2014
Figure 17. Global CHP Installation Market, Regional Market Share, By Micro & Small-scale Type, By Capacity (%), 2024
Figure 18. Global CHP Installation Market, Application Market Share, By Revenue(%), 2014
Figure 19. Global CHP Installation Market, Application Market Share, By Revenue(%), 2024
Figure 20. Global CHP Installation Market, By Industrial Application, By Capacity (GW), 2014–2024
Figure 21. Global CHP Installation Market, By Industrial Application, By Revenue (US$ Bn), 2014–2024
Figure 22. Global CHP Installation Market, Regional Market Share, By Industrial Application, By Capacity (%), 2014
Figure 23. Global CHP Installation Market, Regional Market Share, By Industrial Application, By Capacity (%), 2024
Figure 24. Global CHP Installation Market, By Commercial Application, By Capacity (GW), 2014–2024
Figure 25. Global CHP Installation Market, By Commercial Application, By Revenue (US$ Bn), 2014–2024
Figure 26. Global CHP Installation Market, Regional Market Share, By Commercial Application, By Capacity (%), 2014
Figure 27. Global CHP Installation Market, Regional Market Share, By Commercial Application, By Capacity (%), 2024
Figure 28. Global CHP Installation Market, By Residential Application, By Capacity (GW), 2014–2024
Figure 29. Global CHP Installation Market, By Residential Application, By Revenue (US$ Bn), 2014–2024
Figure 30. Global CHP Installation Market, Regional Market Share, By Residential Application, Capacity (%), 2014
Figure 31. Global CHP Installation Market, Regional Market Share, By Residential Application, Capacity (%), 2024
Figure 32. Global CHP Installation Market, Technology Market Share, By Revenue(%), 2014
Figure 33. Global CHP Installation Market, Technology Market Share, By Revenue(%), 2024
Figure 34. Global CHP Installation Market, By Combined Cycle Technology, By Capacity (GW), 2014–2024
Figure 35. Global CHP Installation Market, By Combined Cycle Technology, By Revenue (US$ Bn), 2014–2024
Figure 36. Global CHP Installation Market, Regional Market Share, By Combined Cycle Technology, Capacity (%), 2014
Figure 37. Global CHP Installation Market, Regional Market Share, By Combined Cycle Technology, Capacity (%), 2024
Figure 38. Global CHP Installation Market, By Steam Turbine Technology, By Capacity (GW), 2014–2024
Figure 39. Global CHP Installation Market, By Technology, By Steam Turbine, By Revenue (US$ Bn), 2014–2024
Figure 40. Global CHP Installation Market, Regional Market Share, By Steam Turbine Technology, Capacity (%), 2014
Figure 41. Global CHP Installation Market, Regional Market Share, By Steam Turbine Technology, Capacity (%), 2024
Figure 42. Global CHP Installation Market, By Combustion/Gas Turbine Technology, By Capacity (GW), 2014–2024
Figure 43. Global CHP Installation Market, By Technology, By Combustion/Gas Turbine, By Revenue (US$ Bn), 2014–2024
Figure 44. Global CHP Installation Market, Regional Market Share, By Combustion/Gas Turbine Technology, By Capacity (%), 2014
Figure 45. Global CHP Installation Market, Regional Market Share, By Combustion/Gas Turbine Technology, By Capacity (%), 2024
Figure 46. Global CHP Installation Market, By Reciprocating Engine Technology, By Capacity (GW), 2014–2024
Figure 47. Global CHP Installation Market, By Technology, By Reciprocating Engine, By Revenue (US$ Bn), 2014–2024
Figure 48. Global CHP Installation Market, Regional Market Share, By Reciprocating Engine Technology, By Capacity (%), 2014
Figure 49. Global CHP Installation Market, Regional Market Share, By Reciprocating Engine Technology, By Capacity (%), 2014 & 2024
Figure 50. Global CHP Installation Market, By Others Technology, By Capacity (GW), 2014–2024
Figure 51. Global CHP Installation Market, By Technology, By Others, By Revenue (US$ Bn), 2014–2024
Figure 52. Global CHP Installation Market, Regional Market Share, By Others Technology, By Capacity (%), 2014
Figure 53. Global CHP Installation Market, Regional Market Share, By Others Technology, By Capacity (%), 2024
Figure 54. Global CHP Installation Market, Fuel Market Share, By Revenue(%), 2014
Figure 55. Global CHP Installation Market, Fuel Market Share, By Revenue(%), 2024
Figure 56. Global CHP Installation Market, By Natural Gas Fuel, By Capacity (GW), 2014–2024
Figure 57. Global CHP Installation Market, By Natural Gas Fuel, By Revenue (US$ Bn), 2014–2024
Figure 58. Global CHP Installation Market, Regional Market Share, By Natural Gas Fuel, By Capacity (%), 2014
Figure 59. Global CHP Installation Market, Regional Market Share, By Natural Gas Fuel, By Capacity (%), 2024
Figure 60. Global CHP Installation Market, By Coal Fuel, By Capacity (GW), 2014–2024
Figure 61. Global CHP Installation Market, By Coal Fuel, By Revenue (US$ Bn), 2014–2024
Figure 62. Global CHP Installation Market, Regional Market Share, By Coal Fuel, By Capacity (%), 2014
Figure 63. Global CHP Installation Market, Regional Market Share, By Coal Fuel, By Capacity (%), 2024
Figure 64. Global CHP Installation Market, By Biomass Fuel, By Capacity (GW), 2014–2024
Figure 65. Global CHP Installation Market, By Biomass, By Revenue (US$ Bn), 2014–2024
Figure 66. Global CHP Installation Market, Regional Market Share, By Biomass Fuel, By Capacity (%), 2014
Figure 67. Global CHP Installation Market, Regional Market Share, By Coal Fuel, By Capacity (%), 2024
Figure 68. Global CHP Installation Market, By Others Fuel, By Capacity (GW), 2014–2024
Figure 69. Global CHP Installation Market, By Others Fuel, By Revenue (US$ Bn), 2014–2024
Figure 70. Global CHP Installation Market, Regional Market Share, By Others Fuel, By Capacity (%), 2014
Figure 71. Global CHP Installation Market, Regional Market Share, By Others Fuel, By Capacity (%), 2024
Figure 72. Global Combined Heat and Power Installation Market, By Capacity (GW), 2014 and 2024
Figure 73. Global Combined Heat and Power Installation Market, By Revenue (US$ Bn), 2014 and 2024
Figure 74. Global CHP Installation Market, Region Market Share, By Capacity (%), 2014
Figure 75. Global CHP Installation Market, Region Market Share, By Capacity (%), 2024
Figure 76. North America CHP Installation Market, Countries Market Share, By Capacity (%), 2014
Figure 77. North America CHP Installation Market, Countries Market Share, By Capacity (%), 2024
Figure 78. North America CHP Installation Market, By Capacity (GW), 2014–2024
Figure 79. North America CHP Installation Market, By Revenue (US$ Bn), 2014–2024
Figure 80. Europe CHP Installation Market, Countries Market Share, By Capacity (%), 2014
Figure 81. Europe CHP Installation Market, Countries Market Share, By Capacity (%), 2024
Figure 82. Europe CHP Installation Market, By Capacity (GW), 2014–2024
Figure 83. Europe CHP Installation Market, By Revenue (US$ Bn), 2014–2024
Figure 84. Asia Pacific CHP Installation Market, Countries Market Share, By Capacity (%), 2014
Figure 85. Asia Pacific CHP Installation Market, Countries Market Share, By Capacity (%), 2024
Figure 86. Asia Pacific CHP Installation Market Share, By Capacity (GW), 2014–2024
Figure 87. Asia Pacific CHP Installation Market, By Revenue (US$ Bn), 2014–2024
Figure 88. Rest of World CHP Installation Market, By Capacity (GW), 2014–2024
Figure 89. Rest of World CHP Installation market, By Revenue (US$ Bn), 2014–2024
Figure 90. 2G Energy AG, Germany, By CHP Module, By Revenue (%), 2014
Figure 91. 2G Energy AG, Rest of World, By CHP Module, By Revenue(%), 2014 
Figure 92. ABB Ltd., By Region, By Consolidated Order (%), 2015
Figure 93. ABB Ltd, By Business Segments, By Consolidated Order (%), 2015
Figure 94. BDR Thermea Group B.V., By Sales (%), By Country, 2013
Figure 95. Veolia Environnement S.A., By Geographic Segment, By Revenue (%), 2014
Figure 96. Veolia Environnement S.A., By Business Segment, By Revenue (%), 2014
Figure 97. E.ON SE, By Power Supply, By Capacity (Bn kWh), 2015
Figure 98. E.ON SE, By Country, By Revenue (EBITDA) (%), 2015 
Figure 99. General Electric Company, By Region, By Revenue (%), 2015
Figure 100. General Electric Company, By Business Segment, By Revenue(%), 2015
Figure 101. Siemens AG, Revenue (Euro Mn), By Year
Figure 102. Siemens AG, Revenue (%), By Regions, 2015
Figure 103. Wärtsilä Corporation, By Regions, by Power Generation Sales (%), 2014
Figure 104. Wärtsilä Corporation, by Business Segmentation, by Sales (%), 2014 
Figure 105. FuelCell Energy, Inc., Revenue (US$), by Country, 2013–2015

List of Tables

Table 1. Global Combined Heat and Power (CHP) Installation Market : Snapshot
Table 2. Global CHP Installation Market, By Regions, By Large-scale Type, By Capacity (GW), 2014–2024
Table 3. Global CHP Installation Market, By Regions, By Large-scale Type, By Revenue (US$ Bn), 2014–2024
Table 4. Global CHP Installation Market, By Regions, By Micro & Small-scale Type, By Capacity (GW), 2014–2024
Table 5. Global CHP Installation Market, By Regions, By Micro & Small-scale Type, By Revenue (US$ Bn), 2014–2024
Table 6. Global CHP Installation Market, By Regions, By Industrial Application, By Capacity (GW), 2014–2024
Table 7. Global CHP Installation Market, By Regions, By Industrial Application, By Revenue (US$ Bn), 2014–2024
Table 8. Global CHP Installation Market, By Regions, By Commercial Application, By Capacity (GW), 2014–2024
Table 9. Global CHP Installation Market, By Regions, By Commercial Application, By Revenue (US$ Bn), 2014–2024
Table 10. Global CHP Installation Market, By Regions, By Residential Application, By Capacity (GW), 2014–2024
Table 11. Global CHP Installation Market, By Regions, By Residential Application, By Revenue (US$ Bn), 2014–2024
Table 12. Global CHP Installation Market, By Regions, By Combined Cycle Technology, By Capacity (GW), 2014–2024
Table 13. Global CHP Installation Market, By Regions, By Combined Cycle Technology, By Revenue (US$ Bn), 2014–2024
Table 14. Global CHP Installation Market, By Regions, By Steam Turbine Technology, By Capacity (GW), 2014–2024
Table 15. Global CHP Installation Market, By Regions, By Steam Turbine Technology, By Revenue (US$ Bn), 2014–2024
Table 16. Global CHP Installation Market, By Regions, By Combustion/Gas Turbine Technology, By Capacity (GW), 2014–2024
Table 17. Global CHP Installation Market, By Regions, By Combustion/Gas Turbine Technology, By Revenue (US$ Bn), 2014–2024
Table 18. Global CHP Installation Market, By Regions, By Reciprocating Engine Technology, By Capacity (GW), 2014–2024
Table 19. Global CHP Installation Market, By Regions, By Reciprocating Engine Technology, By Revenue (US$ Bn), 2014–2024
Table 20. Global CHP Installation Market, By Regions, By Others  Technology, By Capacity (GW), 2014–2024
Table 21. Global CHP Installation Market, By Regions, By Others Technology, By Revenue (US$ Bn), 2014–2024
Table 22. Global CHP Installation Market, By Regions, By Natural Gas Fuel, By Capacity (GW), 2014–2024
Table 23. Global CHP Installation Market, By Regions, By Natural Gas Fuel, By Revenue (US$ Bn), 2014–2024
Table 24. Global CHP Installation Market, By Regions, By Coal Fuel, By Capacity (GW), 2014–2024
Table 25. Global CHP Installation Market, By Regions, By Coal Fuel, By Revenue (US$ Bn), 2014–2024
Table 26. Global CHP Installation Market, By Regions, By Biomass Fuel, By Capacity (GW), 2014–2024
Table 27. Global CHP Installation Market, By Regions, By Biomass Fuel, By Revenue (US$ Bn), 2014–2024
Table 28. Global CHP Installation Market, By Regions, By Others Fuel, By Capacity (GW), 2014–2024
Table 29. Global CHP Installation Market, By Regions, By Others Fuel, By Revenue (US$ Bn), 2014–2024
Table 30. North America CHP Installation Market, By Countries, By Capacity (GW), 2014–2024
Table 31. North America CHP Installation Market, By Countries, By Revenue (US$ Bn), 2014–2024
Table 32. Europe CHP Installation Market, By Countries, By Capacity (GW), 2014–2024
Table 33. Europe CHP Installation Market, By Countries, By Revenue (US$ Bn), 2014–2024
Table 34. Asia Pacific CHP Installation Market, By Countries, By Capacity (GW), 2014–2024
Table 35. Asia Pacific CHP Installation Market, By Countries, By Revenue (US$ Bn), 2014–2024
Table 36. Rest of World CHP Installation Market, By Capacity (GW), 2014–2024
Table 37. Rest of World CHP Installation Market, By Revenue (US$ Bn), 2014–2024

CHP is a technology that utilizes the energy efficiently by both generating power and utilizing the produced heat for other purposes. In contrast to conventional systems, CHP systems, due to their energy utilization process, are able to save 40% of energy additionally. Furthermore, CHP systems generates the energy locally which eliminates the energy transmission and distribution via local distribution networks, further avoiding efficiency losses. End-users for whom security of power supply is a main factor in the selection of power generation equipment, CHP systems are ideal solution for them. CHP, also known as cogeneration, not only reduces energy costs but also reduces the greenhouse gas emissions. CHP systems primarily consist of generators, engines, compressors, heat exchangers, control systems, turbines, boilers, and feed water tanks.

International environmental mandates to reduce carbon footprints and greenhouse gas emissions are driving the adoption of CHP technology across the globe. The underlying objective of energy security is being achieved through the adoption of CHP in the residential, commercial, and industrial applications in various regions. Increasing awareness about the benefits of energy efficient technologies is leading the growth of CHP installations globally. Supportive policies and feed-in-tariffs (FiTs) provided by the government institutions for installing CHP systems are the major drivers for boosting the market for CHP systems. Additionally, low fuel pricing also plays a major role in growth of the CHP installation market.

The CHP installation market has been segmented on the basis of type, application, technology, fuel, and region. In terms of technology, combined cycle-based CHP systems held about 64.43% share of the CHP installation market in 2014. Global estimates for 2014 show that industrial consumers accounted for nearly 65.89%, followed by commercial and residential consumers. This disparity is due to the higher cost savings offered by large-scale CHP plants in industrial applications. However, micro & small-scale CHP units may witness a rapid growth owing to short payback period and high energy savings.

Rising demand for energy security and emphasis on reducing energy losses due to inefficient conventional boilers are boosting the CHP installation market. Increasing awareness about the cost benefits of CHP is also responsible for the growth of the CHP installation market globally.

The CHP installation market has been segmented into four regions: North America, Europe, Asia Pacific, and Rest of World. Europe held the largest CHP installation market share in 2014. During the forecast period of 2016–2024, growth of CHP system installations is likely to shift from Europe to Asia Pacific, followed by North America and Middle East and Africa. Asia Pacific with some of the fastest growing economies may witness the highest growth in the CHP installation market. Additionally, availability of coal may further boost the CHP installation market in the region.

Natural gas and coal being two of the most easily available fuels at low costs are widely used in CHP systems. However, due to high environmental footprint and high handling costs, utilization of coal in CHP is anticipated to decrease in regions such as Europe and North America. Technologies used in CHP systems generally include combined cycle, steam turbine, combustion/gas turbine, reciprocating engine, fuel cell, microturbine, and waste heat recovery. In 2014, combined cycle held the largest market share, followed by combustion/gas turbine and reciprocating engine.

Regulatory mandates to reduce carbon footprint in Europe is the major driver for the growth of CHP installation market in the region. Asia Pacific was ranked third in terms of CHP installation market growth in 2014. In 2014, the market in Rest of World witnessed a gradual growth, however, it is anticipated that environmental regulatory norms would boost the CHP installation market growth in these regions. In Europe, Germany, Russia, Poland, and the Netherlands are anticipated to emerge as potential markets for CHP during the forecast period.

combined-heat-and-power-market

 


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